ECLECTICS:WHAT DID WE LEARN FROM KEYNES? PART 25

The most publicised publicity stunt and most popular intellectual fight in the fields of mordern macroeconomics was a lifetime ideological rivalry of between John Maynard Keynes and Friedrick Von Hayek for which we produced an appetizer to round up this treatise.They both extremely differ in thought by time and space.Both provided exposition and solution to the critical challenges of the great depression.Although he was not popular like his rival,Hayek hardly changed his business cycle theories during the depression.As far as keynes was concerned,he observed that the depression was caused by too much saving over investment,for which Hayek bickered.But insteadwas caused by excess of investment over savings.Whereas Ropke as early as 1930s attempted that synthesis,had posited that too much investment or over investment can degenerate into recession as in 1929 into depression triggered by oversaving.He at first scrutinised Ropke's theory for clarity and later rejected him.But after years of years of silence and